According to CoinMeta, TS Lombard points out that although both the United States and the United Kingdom can alleviate long-term supply pressures by shortening the duration of debt, their fiscal environments are different. The average duration of the UK government's debt is about 14 years, with fiscal policies tending to be more consolidation-oriented and interest rates showing a downward trend, making the refinancing risks associated with shorter debt maturities relatively controllable. In the US, the average debt duration is shorter, fiscal policies are more expansionary, and there is a high demand for financing. TS Lombard expects the Federal Reserve to raise interest rates at a faster pace than market expectations over the next 12 months. The shift in financing towards shorter maturities exposes the government to higher policy interest rates, and shortening the debt duration increases the sensitivity of fiscal policies to short-term interest rates, narrowing the space for policymakers to lower long-term bond yields while controlling interest expenditures.